Shoppers will return to retail slowly post-lockdown - Jefferies report

By

Sandra Halliday

Published
Apr 22, 2020

New research shows that pent-up demand for retail will take a while to boost business at shops once they reopen. The research, from investment bank Jefferies, shows that only around 20% of British consumers will hit the shops as soon as the lockdown ends. However more than half expect to be shopping for non-essentials after the first fortnight.

The research also found that more than two-thirds of Britons are concerned about their finances and job security, although they remain optimistic overall. 

But the crisis could have a longer-term effect on individuals’ attitudes to shopping and in the weeks and months following the lifting of lockdown measures, consumers could have other priorities than buying fashion.

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The study found that consumers will be dedicating a big chunk of their discretionary cash to going out at first. As many as 32% said they’ll do this, which made it the top priority. And 25% will also make international travel a priority.

That said, both socialising and going on holiday are likely to generate much-needed fashion retail sales.

The research also showed that the one-in-five Britons who plan to go shopping as soon as they can are matched by the same number of Europeans planning to do so.